Backing into Hamptons real estate sales for first 6 months 2007

As we have said before, due to the lack of comprehensive tracking tools and the reliance on the county recording office, tracking sales here is like using an abacus. Good luck! It can take as long as 6 months before all transfers are recorded…by the time the horse ‘n buggy gets there and back with figures, we’re in another market already.

According to State Assemblyman Fred Thiele, the five East End towns (Riverhead, Southold, Shelter Island, East Hampton and Southampton) together collected over $53 million for the first 6 months of 2007. That’s compared to $48 million in 2005 and $45 million in 2005.

The CPF also reports the number of transactions as follows:

First 6 months 2007: 4129

First 6 months 2006: 4526

First 6 months 2005: 5133

So, while revenues are up 11% from ’06 and 17% from ’05,

the number of transactions are down 9% from ’06 and nearly 20% from ’05.